A n ~ roup Enterprise December 6, 2020 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers Bandra- Kurla Complex, Bandra (E), Mumbai - 400 051 Dalal Street, Mumbai- 400 001 NSE Symbol: - ZEEMEDIA BSE Scrip Code: - 532794 Kind Attn.: Corporate Relationship Department Subject: Annual Report of the Company for the Financial Year 2019-20 along with Notice calling the 21st Annual General Meeting scheduled to be held on December 29, 2020 Dear Sirs, This is in continuation to our intimated dated November 12, 2020 wherein it was informed that the Board of Directors of the Company have approved convening of the 21st (Twenty first) Annual General Meeting ('AGM') of the Equity Shareholders ofthe Company on Tuesday, December 29, 2020 through Video Conferencing ('VC') /Other Audio Visual Means ('OAVM') and our intimation dated November 30, 2020 wherein copy of Public Notice by way of an newspaper advertisement specifying that the Annual General Meeting will be held on December 29, 2020 through VC or OAVM facility and other requirements relating to AGM, were filed . With regard to the above, we wish to inform you that the 21st Annual General Meeting of the members of the Company is scheduled to be held on Tuesday, December 29, 2020 at 11:30 AM (IST) through Video Conferencing/Other Audio Visual Means. Pursuant to regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Annual Report of Zee Media Corporation Limited for the Financial Year ended on March 31, 2020, along with Notice calling the 21st Annual General Meeting. The aforesaid documents have been dispatched electronically to those Members whose email IDs are registered with the Link Inti me India Private Limited ("Registrar and Transfer Agent" of the Company) or the Depositories. The Company shall be providing facility to its shareholders to exercise their right to vote on all businesses proposed at the AGM by electronic means, by using remote E-Voting facility and E-Voting facility at AGM. The said facility is being provided by National Securities Depositories Ltd ('NSDL'). The remote E-Voting period shall commence from Friday, December 25, 2020 at 9.00 A.M. (IST) and will end on Monday, December 28, 2020 at 5.00 P.M. (IST), and the Shareholders of the Company as at the Cut-off date i.e., December 22, 2020 shall be eligible to vote using the remote E-Voting facility. Zee Media Corporation Limited Corpo rate Office: FC-1 9, Secto r-1 6A, Film Ci ty, Noida - 20130 1, UP, India. Ph o ne: +91-1 20-2511 064-73 Regd . Office: Marathon Futurex, 14th Fl oor. A W ing, N M Joshi Marg, Lower Parel, Mumbai - 40 0 01 3, In dia Phone: +91-22-710 5 5001 I www.zeenews.com I CI N: L92100M H1 999PLC121506 An~roup Enterprise The attached Annual Report of the Company is also available on the website of the Company at www.zeenews.com You are requested to kindly take the same on record. Thanking you, Yours truly, For Zee Media Corporation Limited RanjitS~ ~ Company Secretary & Compliance Officer Membership No: A18577 Encl.: As above Zee Media Corporation Limited Corporate Office: FC-19, Sector-16A, Film City, Noida - 201301, UP, India. Phone: +91-120-2511064-73 Regd. Office: Marathon Futurex, 14th Floor, A Wing, N M Joshi Marg, Lower Parel, Mumbai - 400013, India Phone: +91-22-7105 5001 I www.zeenews.com I CIN : L92100MH1999PLC121506 Making a point... with viewpoints. Making a point... with viewpoints. There’s information. It’s like a mirror, simply reflecting what’s there. And then there’s news. Unlike information, news is never one-sided. News has got facets. That’s the difference you discover when you watch news on Zee. It’s like looking through a kaleidoscope. You find perspectives that are unexplored. You see things that are unexpected. You hear voices yet unheard. Because we believe, that we are not merely conduits of information. We are the champions of every single viewpoint. And that makes us the unshakable pillar of democracy. Making a point... with viewpoints. There’s information. It’s like a mirror, simply reflecting what’s there. And then there’s news. Unlike information, news is never one-sided. News has got facets. That’s the difference you discover when you watch news on Zee. It’s like looking through a kaleidoscope. You find perspectives that are unexplored. You see things that are unexpected. You hear voices yet unheard. Because we believe, that we are not merely conduits of information. We are the champions of every single viewpoint. And that makes us the unshakable pillar of democracy. ACROSS THE PAGES CORPORATE OVERVIEW Making a point with viewpoints 01 COVID-19 - Unprecedented Challenges 04 COVID-19 - Unprecedented Response @ Zee Media Network 06 The Edge with ZMCL 08 Zee Media News Network - A Glimpse 10 Empowering Content for Informed Viewpoint 16 Events & Campaigns 19 A Testimonial of Empowering the Viewpoint 22 Financial, Operational and Strategic Highlights 24 The CEO Perspective 26 Board of Directors 28 Corporate Information 30 MANAGEMENT REPORTS Notice 31 Board’s Report 52 Corporate Governance Report 83 Management Discussion and Analysis 117 FINANCIAL STATEMENTS FORWARD LOOKING STATEMENTS Standalone Financial Statements 132 Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a Financial Ratios & Analysis 194 number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as 'anticipate', 'estimate', 'expect', 'project', 'intend', Consolidated Financial Statements 196 'plan', 'believe' and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. ACROSS THE PAGES CORPORATE OVERVIEW Making a point with viewpoints 01 COVID-19 - Unprecedented Challenges 04 COVID-19 - Unprecedented Response @ Zee Media Network 06 The Edge with ZMCL 08 Zee Media News Network - A Glimpse 10 Empowering Content for Informed Viewpoint 16 Events & Campaigns 19 A Testimonial of Empowering the Viewpoint 22 Financial, Operational and Strategic Highlights 24 The CEO Perspective 26 Board of Directors 28 Corporate Information 30 MANAGEMENT REPORTS Notice 31 Board’s Report 52 Corporate Governance Report 83 Management Discussion and Analysis 117 FINANCIAL STATEMENTS FORWARD LOOKING STATEMENTS Standalone Financial Statements 132 Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a Financial Ratios & Analysis 194 number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We have tried wherever possible to identify such statements by using words such as 'anticipate', 'estimate', 'expect', 'project', 'intend', Consolidated Financial Statements 196 'plan', 'believe' and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. MANAGEMENT REPORTS FINANCIAL STATEMENTS CORPORATE OVERVIEW COVID-19 Unprecedented Challenges Every global health crisis leaves permanent changes in human behaviour and societal attitudes. The COVID-19 pandemic has been no different; it has changed the world as we knew it. When even repetitive use of the word 'unprecedented' to describe its impact seems like an understatement, it is no surprise that the world will see the life in pre-COVID and post-COVID times. Just when we thought that today's knowledge economy had left such global crises behind, the pandemic has exposed the fragility of our political institutions, health systems, markets, and advancements in poverty reduction. New Realities of the pandemic meant strictly enforced lockdowns. New Challenges from social distancing affecting transport systems globally. Masks are the New Truth outside of the home, basic hygiene and preventive healthcare, the New Priorities. Just like 'Quarantine' became an accepted practice after Black Death ravaged Europe and increased women participation in the workforce at the end of World War 2, 'Online Education' and 'Work From Home' are the New Normal to emerge from this pandemic. The pandemic could push half a billion As many as 25 million people could people into poverty in developing become unemployed according to India is one of the major hotspots of COVID-19, but the country has fought back and restricted the infection per capita and countries as per the World Bank. ILO, with significant risks on the case fatality rates due to the valiant efforts of our 'Corona Warriors'. At a grave personal risk, the doctors, nurses, and all healthcare workers tirelessly worked day and night to prevent loss of precious lives. Loss of colleagues to the pandemic did not Poverty would increase globally for higher side.